The global naphtha market Share reached US$ 153.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 189.9 Billion by 2027, exhibiting a growth rate (CAGR) of 3.9% during 2022-2027.
Naphtha represents highly versatile, flammable, colorless, and extremely volatile hydrocarbon mixtures obtained from the distillation process of various organic substances, such as petroleum, coal tar, wood, shale, etc. They are incompatible with strong oxidizers and are insoluble in water.
Naphtha materials are used in producing industrial solvents, cleaning fuel, and fluids for portable stoves and lanterns and prove highly effective in gasoline blending, fire juggling, and dry-cleaning solvents. They are even utilized as a feedstock chemical in the production of benzene, propylene, xylene, ethylene, butadiene, etc. As a result, naphtha hydrocarbon mixtures find extensive applications across numerous sectors, including petrochemical, agriculture, paints and coatings, aerospace, etc.
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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global naphtha market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on application.
Breakup by Application:
- Petrochemical Feedstock
- Gasoline Blending
Petrochemical feedstock dominates the market as naphtha finds extensive applications in cleaning agents, paints, and varnishes. It is also used for manufacturing aromatics, benzene, butadiene, ethylene, toluene, and propylene.
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
The Asia Pacific exhibits a clear dominance in the market due to the expansion of the construction, automotive, and plastic industries in the region. In addition, the increasing production of polymers in different countries across the region is impelling the growth of the market.
The competitive landscape of the global naphtha market has also been analyzed with some of the leading players being:
- BP plc
- Chevron Corporation
- Exxon Mobil Corporation
- Lotte Chemical Corporation
- Mangalore Refinery and Petrochemicals Limited
- OAO Novatek
- Saudi Basic Industries Corporation (SABIC)
- Shell International B.V.
- Sinopec Group
- Total S.A.
- Vitol SA
- Mitsubishi Chemical
- Reliance Industries Limited
- Indian Oil Corporation
This report provides a deep insight into the global naphtha market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the naphtha market in any manner.
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